ZTaxPro
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I think the situation is that you have gains and losses. The losses are more than the gains so you would not think you would owe tax. But since there are the wa...
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For lower income people you may not have to repay the whole advanced payment.
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FICA taxes (SS and Medicare) are 7.65%, income tax might be 12%, state taxes at 5%. That is about 24.65% tax. If they withhold 22% instead of 12% for federal it...
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You can if they qualify as start-up costs.
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What did you set up for your sole business? Likely you were only required to file Sch C anyway. And if you had no income or expenses then there would be no requ...
Activity Feed for ZTaxPro
- Got Cheered for Re: Primary home to rental with the intent of a later sale. a month ago
- Got Cheered for Re: Roommate income and deductions?. ‎April 15, 2023 5:21 PM
- Posted Re: Short term stock loss on Deductions & credits. ‎December 29, 2021 1:36 PM
- Posted Re: My mom filed my son 2021 but I want to file my own son this following year 2022. Will she be penalized because she received that child tax credit 300$ a month? on Deductions & credits. ‎December 29, 2021 1:22 PM
- Posted Re: Bonus deductions on Deductions & credits. ‎December 29, 2021 1:14 PM
- Posted Re: In Sept 2019 I became a real estate broker. I made $0.00 in commission in 2019 and in 2020. In 2021 I made less than $4K in commissions. Can I deduct 2020 expenses? on Deductions & credits. ‎December 29, 2021 1:08 PM
- Posted Re: I started a sole business back in 2016 that didn't generate any income or expenses. Didnt file.however it did generate a lil income in 2021will i be in alot of trouble? on Business & farm. ‎October 28, 2021 11:30 AM
- Posted Re: My husband's company, of which he is the owner, hired our 15 year old daughter. Does she need to fill out a w-9 form? on Business & farm. ‎October 28, 2021 11:27 AM
- Cheered Re: I just sold land in Wisconsin that was part of my divorce settlement in 2013. Sale price $120,000 and settlement value was $110,000. Will I be taxed, living in CA? for Hal_Al. ‎October 25, 2021 2:30 PM
- Cheered Re: I live in WV. My sister and I are co-owners of a property. If she gives me her portion of the property will she have to pay a gift tax? for rjs. ‎October 25, 2021 2:29 PM
- Posted Re: If I sell my primary home next year, but take down payment money this year, do I lose the exemption from capital gains on money accepted in either year? on Deductions & credits. ‎October 25, 2021 2:27 PM
- Posted Re: If I paid a contractor over $600 and he is in a foreign country am I required to send a 1099 under IRS 2019 tax requirements? on Deductions & credits. ‎September 14, 2020 12:59 PM
- Cheered Re: Entering mileage in TurboTax when I am not filling out any other part of the business expenses? for AmyC. ‎March 20, 2020 3:34 PM
- Got Cheered for Re: HSA Benefit. ‎March 16, 2020 9:22 AM
- Posted Re: IRS Form 8283 on Deductions & credits. ‎February 29, 2020 1:02 PM
- Posted Re: Claiming dependent on Deductions & credits. ‎February 29, 2020 12:57 PM
- Got Cheered for Re: Earned Income Credit, need advice. ‎January 28, 2020 3:35 PM
- Posted Re: This is my first year doing a real estate llc- do I have to have to file a texas and Georgia business return on Business & farm. ‎December 6, 2019 2:18 PM
- Posted Re: International Travel Expenses - Trip Primarily for Personal Reasons with a Side Trip for Rental Property Inspection on Business & farm. ‎December 6, 2019 2:13 PM
- Posted Re: Self emp.Bought truck 12/2014 for business,took 179 1st yr. Closed business 9/1/16.not able to sell truck until '17.How do I figure 179 recapture& sell of business asset? on Business & farm. ‎December 6, 2019 2:04 PM